The “PlaystationMeeting” event, as it’s being called, will be held at the Playstation Theater, located in Times Square, New York City, at 3 p.m. EST. Sony will livestream the event, likely on the Playstation Twitch channel, a representative confirmed to Polygon.

The Neo will reportedly have an upgraded CPU, GPU and RAM. The Neo will be in direct competition with Microsoft’s eventual Project Scorpio, the incremental Xbox One upgrade they unveiled at this year’s E3. Both of these consoles are likely aimed at the many people who have yet to upgrade to the current generation of hardware.